Agenda Item: 12(b) |
Prepared By: Guillermo Polanco |
Business: Resolution |
Department: Finance |
Subject:
Title
Resolution Authorizing a Payment Gateway Agreement with Paymentus
Body
BACKGROUND:
In order for the City of Marco Island to offer alternative payment channels to its customers it is recommended that the City use a payment gateway provider rather than the customary merchant services provided by financial institutions or their third party affiliates.
Paymentus is a competitor to Paypal, but in addition to processing payments the Company provides payment gateway services such as the processing of payments from other third party banks using its proprietary payment aggregator.
By having a payment gateway the City's customers would be using one central payment site regardless of whether they are paying their utility bill or paying for their building services permit.
Paymentus has also been included as sole source provider for TylerMunis by other municipalities due to its real time posting as opposed to batch settlements used by other service providers.
This process allows for centralized reporting for analytical, statistical, and reconciliation purposes.
FUNDING SOURCE / FISCAL IMPACT: N / A
RECOMMENDATION: Staff recommends that the City Council authorize the City Manager to enter into an agreement with Paymentus in order to expedite the process of providing online payments to the City of Marco Island's customers.
POTENTIAL MOTION: "I move to adopt Resolution 14-69."